The Economist: Online Gambling Ban Will Fail

Attempts to ban online gambling will fail to stop the practice, in the same way as prohibition failed to stop people from drinking, The Economist has predicted in an article on July 8 that also appears on its online news site.





Published continuously since its establishment in 1843 and boasting hard copy circulation of more than 1.6 million copies each week, The Economist is a voice that cannot be ignored by legislators in Washington.

When it comes out and takes a stand on an issue like [directory/|online gambling], which it says should be legalized, taxed and regulated, it does so after careful consideration.

As the article points out, the US Justice Department maintains that online gambling is illegal now that the 2006 Unlawful Internet Gaming Enforcement Act is being implemented, and yet Americans are now betting online as much as they did four years ago.

The reason for that is simple: "anyone who wants to gamble and has an internet connection can do so."

According to the article, which was published to accompany a special report on the state of online gambling in the world, the legal gambling market totaled $335 billion globally in 2009, two-thirds of which came from lotteries and casinos.

The special report shows that the online gambling market remains relatively small proportionally, tallying up at just over $25 billion in 2009.

That figure will continue to rise in the future, leaving lawmakers to choose whether to fight a losing battle or to regulate it, as suggested by The Economist.